DTN Early Word Grains 12/03 05:50

DTN Early Word Grains 12/03 05:50 Trade Tensions Ease, Commodities Respond Higher March corn was up 4 1/4 cents, January soybeans were up 17 1/2 cents and March Kansas City wheat was up 5 cents. By Todd Hultman DTN Lead Analyst Pre-6:00 a.m. CME Globex: March corn was up 4 1/4 cents, January soybeans were up 17 1/2 cents and March Kansas City wheat was up 5 cents. CME Globex Recap: The entire soybean complex is trading higher early Monday after the White House issued a statement late Saturday, explaining the U.S. will not increase tariffs on Chinese goods as of January 1 and China will buy a substantial amount of U.S. products. Specifics were not yet provided and more negotiation is required, but investors responded favorably, sending Dow Jones futures, gold and crude oil higher, as well as grain prices. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 199.62 points at 25,538.46 and the S&P 500 up 22.41 points at 2,760.17 while the 10-year Treasury yield ended at 3.01%. Early Monday, DJIA futures are up 461 points. Asian markets were higher with Japan's Nikkei 225 up 223.70 points (1.0%) and China's Shanghai Composite up 66.61 points (2.6%). European markets are also higher with London's FTSE 100 up 162.75 points (2.3%), Germany's DAX up 296.16 points (2.6%), and France's CAC 40 up 98.70 points (2.0%). The euro was up 0.0035 at 1.1357 and the U.S. dollar index was down 0.22 at 96.98. December 30-year T-Bonds were down 6/32nds while February gold was up $10.00 at $1236.00 and January crude oil was up $2.18 at $53.11. Soybeans and meal on China's Dalian Exchange were both a little lower. Malaysian palm oil was down 2.0%.